The plastic crate provider, which works for the food industry, moved quickly after its rival fell into administration.

Two people will transfer to Edinburgh based PPS as part of the deal.

Iain McArthur, who heads the business along with fellow Scot David Peggie, said: "We are determined to expand our operations in Scotland and this timely acquisition of these assets and contracts is part of that plan.

"As Cool Blue were also in contact with other businesses in Scotland to supply and wash returnable crates, pallets and boxes, PPS is now in a position to continue discussions with those companies with a view to securing further Scottish-based contracts."

PPS supplies and washes plastic pallets and fish boxes.

Earlier this year it won a six-figure deal with Levenstond Seafood for its Shetland operations.

McArthur added: "The early months of 2011 have been extremely positive in Scotland and now we are planning to build on that."